THE CHINA
MAIL,
WEDNESDAY, FEBRUARY 15, 1956.
Pago 9
TRADE and
COMMERCE
SECTION
NY COTTON Pacific Coast Business NY And London Wall Street Waits
FUTURES
OPEN
HIGHER
New York, Fob. 14. Cotton futures today opened higher and main- tained 凸 firm undertono for the rest of the session, de- Covering in the Morch ilvery, anticipating Art notice day Feb. 23-and reflecting o further shrinkage In the cer- the tificuted stock, dominated situction in nearby months.
Right at the cloro, day trade deterred realfing unsettled the deliveries, but the March con-
track
Anished at the day's high. Final range showed the lit up 15 to off o 8 points. Opening prices were up 1 to 13 pointe
New crop
dellvery featured further buying credited to ship pers, spot merchants and other trad interests, rupposedly placement buying at the bale of actual cotton tor de- livery Inter in the year
SELLERS CAUTIOUS Sellers' cautiousness pending developments on farm legislp tion, aided the rising trend to the New later months, with Orleans Exchange closed today
the
Mardi Grua holiday buying was concentrated in the local market, traders and
- רונן
Leaders Predict Chicago Grains
Prosperous
WORLD RUBBER
Year Show Slight
San Francisco, Feb. 14,
Pacific coast business leaders, who are active in international trade, have predict ed that 1956 will be prosperous.
Significantly, they do not qualify their MARKETS optimistic prediction with the consideration of an outbreak of war. They did a year ago.
New York, Feb. 14. The No.1 Rss rühber futures Today closed 2 to 100 points lower with sales of 434 run- tracts.
The new standard contract closed 10 to 100 ports Jewer with sales of 21 conttugis.
Prices stendied somewhni at the close, refleeting covering by carly sellers and a routine tradis weakness acmand. Parder was uitributed to a hollany e- cumulation of liquidation en- by lower London couraged
cables, plus continued dullness
in the Jeni Spet market and re- ports of some factory accumula ilon.
A lightening spot rotten situa- tion following the heavy pounding under the government May joan programine, provided July additional
far
the Seit strength The March contracts Dei. nearbys.
cent edged close to the 342.
Futures:
uld No. 1 Jan
200
34.30 33.40 3239.37
Contract New #tah
Mar
340)
35.00
34.00
33.00
34.00
31.00
the highed price on the May beard in a little more than a DJuly усах.
Sept The
The ceruncated stock totulled Mar
decline of 342 10,420 bales, a
bales from the previous posting. Open contracts in March at the start of trading today totalled
190.400 bales.
Volume
were:
Month
Mar.
May
July
Mar
May
and
Voitine 16.200
17.100
31,000
21,100
open
interest
Open interest
LONDON
The market was easy with spot quoted at 31% pence per lb. Prives:
Apri/June July/Sept. Det/Dve.
JIE
4,000
9,100
1.800. 1.700
100.200
199,4 272,200
228.500 82,400 170,000 47,000 14500 1,543,300 balen
NEW YORK
Prices of futures closed today
in cents per lb. as follows:
Spot
Mar.
July
Oct
No Fun Apol
31-0194
Settlement house jerm:
Mor.
April
3105-3148 30%-30%
ZD-201
28-231
20-2015
Feb.
301-31
Apri
303-30 301-30% Crepe thin and thick unquoted
AMSTERDAM
general markets, cit basis, parks:
com-
One of the factors which will "The Japanese have made im- permilt the local exploitation etpressive progress in raising the increasing freign trade is con- quality of their manufactured 1lasticet Inve on the Sangoods, which has enabled them Francisco waterfront, recording to make substantial shipments to President Cyril Magnin of the to this country. State Board of Harbour missioners.
"The port of San Fra beiseo particularly since the question now in Ita sixth year off of taxation of United States
contract longshore
peace finns in Korea has been settled.
Mr uninterrupted by strike,"
Restrictions Removed
Magni cald.
Modernisation
"Our relative man hour loss frum work stoppages stacks up more than favourably with the experience of other port area." a Is directing Mr Maghin 30,000,000-dollar (over L10,- 000,000) modernisation
und construction programme for the port of Sen Francisco, In addition, the state is to open a world trade 5,000,000-dollar centre at the port this year.
Mr T. S. Peterson of Standard Oll
af California, Company has which
In Interests Middle East, Latin-and South Americts.
the Australia, and
the Far East, predicted that
Industry. both pretroleum
in the and abroad
Untert r'nother States, would record Increase during 1956.
tho
"Prospects for 1980 point to further sustained growth of the United States and free foreign
though world economies,
At somewhat lower percentage
Mr Most predleted that trade
would with Korea
increase
But he Philippine Islands will continue to be the nation's largest trading partner in the Far East
Variation
Chicago, Feb. 14. Grains varied only slightly on either side of the steady mark on Board of Trade today.
ground
the
Wheat futures lost some because of. reports from the southwest indicating
roll moisture now is ample for present crop seeds in most of flint area.
Dealers sold demand for soybeans reflected higher prices for edible olls in wholesale and futures markets,
The International Co-operation Administration announced today it has authorised India to buy $1,427,000 worth of bread grains
the United
with States in delivery by July 31, India will pay for the grain with its own
terms of Currency under contract..
the
Silver Boost
New York, Feb. 14. Handy
Harman, bullion deniera, today räledD the silver prion cent to 91 cents a fine dance, the fifth price boost In two weeks.
Handy & Harman said tdony'" boosi, as with the preceding four Ineresaco, reflesta an.. Insuficient supply of the white 'metal To satisfy demand,
In London, silver WID quoted today at 79% penco per
ize ountO for both spot and forward, (agajast 19 pence for both post- tion yesterday.)-United Press.
For Eisenhower's
Decision
New York, Feb. 14.
Stocks eased in quiet trading today as Wall Street awaited the outcome of President Eisenhower's medical examina- tion and any clue it might offer to his candidacy decision.
The announcement came after the close of the market in New York. His
HONGKONG doctors' statement that there is "no medical
STOCK EXCHANGE
(From Our Correspondent)
Business done on the Hong- kong
this Stock Exchange morning amounted to $1,120,000. Noon quotations anxi the morning's transactions:
BHARES NUYERS' SELLERS SALES
TIK Bank
.. 1743 1745
10 1780 15 M 1700 INSURANCES
Valon
The Agriculture Department BANKS
tudny 13 contracts awarded
for most wheat Rour supply distribution in the Middle East under a foreign aid programme. He does not expect the new
Wheat closed up 32 cent; graduated customs tarif to re- sult in any substantial reduc-soybeans off to up %% cent. Yon.
He also expected, an increase in trade with Thailand because of the removal of import re- strictions,-China Mail Special.
UK To Consider
Embargo Representation
London Feb. 14.
Mr John Hare, Mirdster of
The market was weak. Prices increases than in 1954," he de-State for Colonial Affaire, said Soybeans, No. 2, yellow
closed today
30.30
23.74-73 55.00 33.90-93 32.30
No. 1 rubber
in guilders perclared. kilogram, clt, March as follows:
3.00 noi,
2.08 nom.
2.04 no.
32.00-02
31.00-01 31.20
30.05
Future closings, in pence per
No. rubber
Na, 3 rubber
'No, creDE
3.30 nom.
The Singapore rubber market was closed-United Press.
-LONDON METAL
LIVERPOOL
lb. were as follows!
10:00
May/June
34.92
July Aur.
24.00
29.05
July/Aug.
Oct/Nov,
Doc/Jan.
26.03
The
Old contract. Mar./Apr,
New contract May/Jurie
Egypltan Karnak Mar/Apr.
SAO PAULO
Futures were
unavailable
until tomorrow-holiday,
The US spot cotton price was
also not avallable,
of
Sales at 12
the 14 designated
spot
markets totalled 40,802 hales.
United Press.
PRICES
Forecast
continued
cx-
today Britain would sympathe tically coralder Malaya's repre- sentations over the United No- tons embargo on the export of Malayan rubber to China.
The national Increase in 1955
Sir Leslie Plummer, a Labour was seven per cent, the foreign Increase was eleven per cent member, that asked in the House "reflecting the
of Commons what was the na- pansion of foreign, economies ture of the official representa- andiablity of Westerntions made by Tengku Abdul the Federation of Europe's coal Industry to meet Rahmon, that region's growing fuel re- Malaya's Chief Minister, on the quirements."
subject of the embargo.
Mr Hare replied:
Forecasting a further increase London, Feb, 14.
for 1956, Mr Peterson said: "The
"I was agreed with Tenzku tin market
total petroleum demand is ex- was firm. Prices closed today in sterling pected to rise about nine and Abdul Rehman that the details half per cent, with the emphasis of this discussion should remain per long ton as follows:
ronidential and I am therefore on the heavier fuels which are not at liberty to reveal them. now figuring more and more the ladustrial
ISSUTC YOU Importantly in
"I can, however, development of Western Europe, that the Chief Minister's repre- sentations on this subject will
Tin
Bayer
Dot
3-month-
Copper spot
3-month
sellers ACT 7704 270 20015 309 38274
383
11011
MAY
Zinc 1st half Feb.
110
20019 May
-United Press.
Lent at half Feb. 195%
RESTRICTION RUMOURS
The industry feels justified in be sympathetically considered by
with Large-scale the government.?-Router. 100% proceeding
101copital expendtiures, in our
London Stocks Give Ground
the
London, Feb. 14. Stocks continued to give ground on London Exchange today with losses in the main
body reaching almost £1.
Accounting for the declino were rumours of further restric- tions in the near future to halt the rising trado deficit and the end of the two-weak accounting period.
were
Leading the decline British government bonds. Al-
*
Singapore
case on about the same scalo dollars).
as.in 1850 of our
A substantial
outlay for these purposes will be allocated to further explora- Lotx and development of off- shore oil, which is already proving a valuable asset to in- dustry.
+
Substantial Volume
London Foreign
Exchange
New York Montreal Armsterdam) Brummela Copenhagen
Parts
Standard's Investment in ex-lon ploration will include the cost stockholm of a continued search for oil in Zurich... Australia, where a monentary commercial producer wag drilled several years ago.
"Four gravity metre parties and three seismographie parties
Other
Preda
London, Feb. 14.
2.30 1/16-2.000/18 2001-2005/20
103314-19.33 1700-170035 98231-08211-
$4.533-34-533
мето unchanged -United
will be in the field," Mr Peter New York Foreign
son said, "carrying on further studies into the all potential of continent. Plano also call
the
Stock Market Nathan Most, President
Brokers
Singapore, Feb. 18. though sught rally tendencies
today quoted the appeared around noon, the following- slock prices! dustrials were eazy toward the close.
Royal Dutch and British Batu Lintang Rubber Co. Opening Pétroleum
oil sharea lower.
led the
Bright Spot
A bright spot appeared, in the sold shares which went strongly on heavy buying. - Orange. Free State laties featured with Free State Geduld prominent,
Tin shares weto oased slightly, Coppers and other base metal issues were quiet,
Bubba larues were inclined
Exchange
for the continuous operatoln of two strings of tools on *x-
New York, Feb. 14.
$1.003 Canada ploratory, drilling."
2.80 1/10 of England 30-day future.
2,79 3/23 00-day futures.. the World Trade Association of
Auripollo the San Francisco Chamber of South Africa
predicted that the Belgium Commerce, kevel of international trade in ula 1955 voume by a very sub- 1858 would probably exceed the itangkong stuntia" amount.
business activity in the United
Pakistan
2,00 13/10
02:00
2100
ie .1765
United Press.
States would stimulate a largo NEW YORK METÄL
$1.800
43/001
The continued high level of
/Pu
11
$4.05
materials
incre in imports in both raw anch manufactured
91735
goods.
and
government-
$1.05
34.12.
sponsored
'lary abroad
$1.73
de In 1955,
4.10ed
$7.39
$1,00
Ltd. Brities" Tornen Petroleum
Syndicate, Consolidatod
Sinelleri Th Ord.
Neave Lid Ord... Fraser Neave Fraser Neavo 71% cum.
drat fangkentai - Shanghai
Banking Corp Hongkong Tin” Lid. Kempas LIG. ** Lines Rubber Estates Ltd. Molay Breweries cake
itabber New Berandah Petaling Tex Ladie Station Hotel... Hingapore Cold Storage
·Dritish. Iniurafice De
to cave, Foreign bunda closed Bish Ind Irregular.
*****. { stirmila Trading. Dollar stocks worn bareis trait Steamship. gleedy in quiet dealings-United United Engineers. Oia,”
Vísarne, Bro
10.30
$9.30
Private
...FUTURES
4
investments of dol-
are expected to
continuo at about the spino quic
New York, Fob, 14. Prices of mail futures closed today in cents per lb. as follows:
The outlook for trade with Lond the Pacific basin in particular In generally favourable," Mr Moet zin
declared, and it is anticipated disa that our trading with Jäsen, both exports and imports will | doppar Lieb continum at a very high level,
24 71
31
reason" why the President should not run again made for optimism in financial quarters.
The market genetally lost a Borden (The) Co. little ground with Natural Gas
issuck
Burroughs Aŭd Machine Canadian Pacific R. on Lears Case (3. 1.) Co.
off sharply the President will not sign the... Financial Corp. Natural Gas Bill which wouldCat. Trector
Celanese Corp. exempt from direct Fedemi Chase Manliat. Bonk
Chrysler Motore Power Commission control,
Colgate-Palmolive Co.
Panhandle
3
Eastern Pipeline Commercial Credit
Commonwealtti *Elec. lost
tihan more
points, Consolidated Edison People's Gur, Philips Petroleum, Continental Oil of Del." Riclifield Oll 2 points or more.
Strong Spots
toes Lombard
There were a few, good-sized Underwriters si 500 0.10 10sses in rails, headed by New DOCKS, ETC.
Haven issues which lost 11⁄2 in X. Whor!
.. 7834 Dock
the common and nearly 2 in the Provident (0) 15.40 15.50 1000 ir 1511⁄2 | preferred,
500 6 19,40 Wheelock
11.65 8.83 2000 L 0.00 1000 8,00 LAND, ETC.
.
There were Geveral strong Long Belt spots in industrials, IIK Hotel ID 10.10 1500 m 18,10 | Lumber, a recent feature, odded
+
HK Land (0) 07
IN OL
Tram
3000 10
64 1300 04
*
* 1.45 1.00 3000 40 1.75
...... 25.40 2314 200 u 25.30 -6200 or 23,40
Star Ferry.. 142 Youmati Ferry 100 107
to of 307 23 4000 20
- 199 pe 23
1000 A 21,DO
1800 19.
Crane
Crown Zeilerbach Cuban Amer, Sugor, Diasen Akkall Dow Chemicula Dupont de Nemours Englm Kodak
El Paso National Gan Erle Railroad ........ Family Finance Corp. General Electric
General Foods
General Motors
Gen. Pub, UB,
Gildden Co.
Goodyear Tiro
|
Goodrich (B. F.) Co.
Hayden Chemical Homatake Mining Co. Ingersoll-Rend Inland Steel Co. Intercheroical Corp.
another 5 points and, following the market close, it was dis- closed merger possibilities are helog discussed with Inter-In national Paper Co.
Business Machinen Int'l Harvester International Nickel International Paper Int'l Tel & Tel
Procter and Gamble, also a recent strong feature, röde more | John-Manviife Co. than a point and after the close
a two-for-one split proposal was
announced. ·
Steels and motors were steady,
Industrials stocks
Kansas C. Power & Light Kentecolt Capper
Ligget Moyers Tob. Co. Lockheed Aircraft
Loews Incorp.
Lone Star Cément Co. Louisville & Nashvlile .
Mcsat Iron Corp.
generally Lowenstein & Sons. $14,5 on average | Minnesota Mining were down while ralls last '0.76 and utilities | Mission Development
0.01, Out of a total 1,120 issues 7034474 traded, 500 were lower, 3915
31 314 500 ve 3415
600 ur 3454 Cement .... 301 3015 700 40
700 301 18.30 10.00 1000 10,00
124
200 * 30
CLOSING PRICES Prices per bushel in cents: Wheat, No. 2, rea
Mar. 211(H) 210(L)
22in 21014- 2119-12
190)
190-
Hunshrey Realty X Alì 1.60 1.05 Ri
20216
RUBBER
A. Rubber
Corn, No. 2, yellow
Trust
130
UTILITIES 2.40 214
1301
13375-134
13712-%
137796
C. Light (0) 22.80
133!
*C Light (N) 18.00
19 2700 a 19.10
12)}
12074
2500 6 19,00
Electric
02.01%
.... 441⁄2 452 400 e 45
1900 se
500 $ 45.
63
1500 45
Telephone
Spot
2482
INDUSTRIALS
Mar.
2483
May
July
Sept.
2423 23424264 24192
Nov.
STORES, ETC.
Dalry
Watson
Barley Spot
Crawford
130-1401
7.70
New York flour
200 fb. sack
$13.00
WINNIPEG PRICES
Winnipeg, Feb. 14. Prices of grain futures closed today in
per bushel as follows-
oats
May July
Oct.
Rre
May
July
11291 100%
Oct,
107
Barley
May
1005
July
vat
Ocú
DO
Flaxseed
May
July
Oct.
What
No.
cents:
No.
Pres
cents
COTTONS
Nanyang MISCELLANEOUS
Yancisze
Allled
5.45 H.K. & F.E.
Invest
..... 11.40
1000 0.00
West German
Trade Increases
Bonn, Feb. 14.
West Germany's trade with Communist countries increased by nearly 50
334
338
per cent
northern,
16272
from 1954 to 0.12 1955, according to official
figures published today.
the Soviet Her exports.to Union doubled,
But her trade with Commun- 1st countries still amounted only two per cent of her total foreign trado.
New York Sugar Market
New Yrk, Feb. 14. World No. 4 sugar futures elosed today unchanged to 2 points higher with sales of 91
contracts.
་
to
The official statistics also re- vealed big stivances made by in exporters Wee German under developed countries, panti- cularly in the Middle East and in Africa and parts of Control
America
up
Total Germai exports wenKE 17 per cent to 25,691 million The domestic No. 0 sugar, marks, (about 2,141 million futures closed unchanged to sterling).
F
3 points higher with sales of 199" Most Of Increase
contracts.
Most of this increase was in which The higher trend reflected the the finished goods in strongthening position of the German Industry specialises raw market, traders said,
machine tools "or all kind
cheap cars, hardly In world raws, dealers under-cheap,
textiles, tractors, chemlent etiec- bought rient products, саметаз and alood Japan recently about 60,000 toms, at around 3.25 toys. cents a pound, fob. Most of the Imports rose even faster by 27 sugar was reportedly of Cuban origin, although some Dominican Per cent to 24,477 milliot marks and Haitian rows piso were in- Cabout 2,000 million sterling), leaving the German treasury volved. Futuros:
nevertheless with a comfortable balanco for "the positivo trida fourth succtrsive year,
Contract No. 4 (world)
Total exchanges with Com- Fnunist countries in 1934 word million marks (about 60 1,031 million sterling) an
006 3.27
March May July
Hept.
外证
Spot-{data per lb.
Cuba)
tob
7.24
Contract No. d
March
million tharks (about 60 million sterling)
f) In 1966.
West Germany exports
the Soviet Union doubled from 50 million marks, (about million sterling). In 1984 to 104 milión marks (nearly million atenling) in 1963), Her trade with China drepped during the year. Reuter.
higher,
to
slightly
Turnover increased
·1,000,000 shures from 1,420,000 yesterday,
New York Stock Exchange bond volume was $3,010,000.
American Stock Exchange volume was 870,000 shares.
Dow Jones closing averages were:
30 Industrials
zo ratle
10 uulities
stocks
40 bols Comm. future price index Moody's index
Closing Prices
Monsulto Chemical Co. Montgomery Ward
Monterolo Inc.
National Cash Rex. "A" National Dairy Prod. x.i National Lead
National Bleak Corp. New York Central Olin Mathiasort (xd.)
- Olts Elevators
Owen-Illinois Class Pacific Gas & Elec. Pacle Westerns Of ... Pen American Airways Paramount Pictures Parke Davis Co. Permy J.C. Co. Pen Salt Co. Philip Morris ... Procter & Gamble Co. 406.72 Pittsburgh Plate Glass 154.81 Publicker Industries
Pure Oll
Radio Corporation Republic Steel
183.22 Shell Oli Co. 400.00
Saint Reg, Paper Sinclair OII
Hocopy Vactition
South Porto Rico Sugar Bouthern National Gas
Houthem Hallway (Com)
Standard Brands
Alden Inc. Acy,
217
Ailled Chemicals Allied Mills Inc.
107
Standard Oil of Cal Blandard Oil of Ind
Blandard Dil of N.J.
Allis Chalmers ..
87
Sterling Drug Co.
American Airline
22
Amedican Cyanamide Co.
0315 Studebaker-Packard
Corp.
Am. Mach. Pdry
American Metal
American Smelling
Am. Sugar_Red, a
American Tell & Tel. American Tou." Anaconda Copper Art Co
Armour
Baldwin-Lima-itam. Baltimore & Ohio Bendix Aviation. Cor Benguet Cons. Bethlehem Steel Boeing Airplane
Blokely-Van Camp,
241 Swift & Co..
4831
90
Texas Co.
Tide Water Am. Oil Twenty Century Fox Film
18215 Union Carbide
Union Parifle Railway
B7EF
United Aircraft
V.B. Line Co.
10%
U.B. Smelting
13 U.8. Steel
ectric
Warner Bros.
01% Westinghouse
West Ya. Pulp & Paper
14615 | Woolworth
1
433
-United Prem
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